Buying Property: Tips & Tricks of the Trade

So you’ve decided to go ahead and buy a property, congratulations! This is a great step in not just securing a home for you and your family but also working towards a stronger financial future. Today’s article is going to discuss the top tips and tricks of buying a property, ensuring you secure the property of your dreams…

Compare the market

Once you have a location in mind, it’s important to compare at least 10 properties in that area before bidding. This will help you understand if a house is overpriced or underpriced, which gives you a strong understanding of the market and what represents great property value. Researching and comparing houses first stops you from rushing into a purchase and therefore ensures you receive the best deal possible.

Develop a great relationship with your agent:

Estate agents typically will want to work with and sell houses to people they like. This may sound silly but actually if you do not have a good relationship with a seller, they are far less likely to contact you when a new property is on the market. An estate agent will also be likely to offer more support if they enjoy working with you and they will therefore do everything they can to help and advise you during a bidding war, so it’s absolutely essential to create a great relationship with them.

Secure a credible solicitor

Before starting your house hunting, ensure you have a credible solicitor you can rely on. There are always going to be cheaper options for solicitors in the market but compromising on cost may mean you’re also negating on quality. You need a solicitor who can problem solve, as you may have to consult with them and ask for advice if there are any complications whilst buying the property. Additionally, it can take a long time to secure a mortgage, so your solicitor will help speed up this process and allow you to secure a mortgage in principal before you begin house hunting.

Be realistic if your budget is limited

Buying a property isn’t a time consuming process if you understand what you will realistically be able to afford with your budget. Many people actually struggle to find a property for a long time because their budget doesn’t match their expectations. There has to be a compromise if you can’t afford the property you aspire to. This might mean compromising on a location if you’re not able to compromise on space, which will save time waiting for an unrealistic house price to arrive on the market.

If you apply the above tips and tricks, you will have a clear understanding of where to start when buying a property. Not only will these tips ensure you receive a better property deal but you will also save time and remove the potential for any stress or complications during the buying process. If you have any questions or comments about this article, please feel free to contact us and we will be happy to help.

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